Binance has initiated a probe into Solana trading following claims of market manipulation, triggered by unusually high SOL prices approaching Binance Coin’s levels. This move resulted in the suspension of select Solana trading pairs amidst escalating volatility across the cryptocurrency market. 💰 📈 The exchange’s investigation centers on allegations of wash trading orchestrated by unnamed high-profile market makers who stand accused of manipulating the price of SOL, generating billions in illicit profits. Despite these claims, major firms like GSR have denied involvement. 🤔 ⚖️ This suspension has triggered increased volatility across various cryptocurrencies including ETH, BTC, BNB and even stablecoins, with significant amounts of $4 billion transferred within the Binance ecosystem following the exchange’s intervention to stabilize prices. 🤯 Despite this uncertainty, Solana developers continue to operate actively, unfazed by the recent regulatory spotlight on potential centralization risks.